WASHINGTON - The Senate Thursday voted 67-32 for legislation that would delay higher flood insurance premiums resulting from a 2012 law for four years.

The vote sets up a critical test in the House of Representatives, where Speaker John Boehner and leaders of the influential House Financial Services Committee have expressed opposition. That's the committee that originated the 2012 bill -- known as Biggert-Waters -- designed to make the debt-ridden flood insurance program financially solvent. But the law is resulting in significantly higher premiums for some policyholders that will make continued coverage unaffordable, according to backers of the delaying legislation.

Sen. Mary Landrieu, D-La., who has been leading the effort to block the large premium increases she says are "clobbering" middle-class homeowners, expressed optimism that meaningful legislation can pass the House. Landrieu said she is prepared for "reasonable compromise," adding that White House, which earlier this week released a statement critical of the bill, announced Thursday it is now ready to "work with us."

A White House official confirmed Thursday night that President Barack Obama would not veto the bill, if it reaches his desk.

Landrieu, who left the chamber after the vote
to catch a plane to Baton Rouge, where her son, Connor Snellings, and wife,
Emily, are expecting the imminent birth of her first grandchild, a boy, said Thursday
was a special day. "I am proud that we were able to come
together today to protect middle class families and help preserve the American
Dream that if you work hard and play by the rules, you can build a prosperous
future," Landrieu said.

Sen. David Vitter, R-La., joined Landrieu in hailing the large vote for the delaying legislation.

"Folks
in Louisiana know all too well the necessity of flood insurance. But I've heard
from countless families that if flood insurance spikes weren't stopped, they'd
lose their homes - their slice of the American Dream, Vitter said. "Unsustainable rate increases are just out of the question for millions
of homeowners. The legislation we just passed would provide a huge relief, and
fix some of the program's problems in a long-term, fiscally sustainable way."

Landrieu said she expects her constituents, and policyholders from throughout the United States worried about substantially higher premiums, to contact their House members in coming days. She called on her political nemesis, Republican Louisiana Gov Bobby Jindal, to contact House Republicans to push for passage.

"We need all the senators to talk with their delegations in the House and get them to really step up, and we need a lot of communication to the speaker to say, Mr. Speaker, this can't wait," Landrieu said. "There's already too much time, too much anxiety, too many real estate agents being put out of business, too many for sale signs coming down, too many people making business decisions because of equity lost."

Earlier, the Senate rejected by a 64-35 vote
an alternative proposal by Sen. Pat Toomey, R-Pa., that called for a slower
phase in of rate increases than called for under the 2012 Biggert-Waters bill.
But unlike the bill, supported by every member of the Louisiana congressional
delegation and which passed the Senate Thursday, it would not have delayed most
of increases, the bill's backers say, to give time for FEMA and Congress to set
up an alternative to the 2012 law that moves the program toward solvency
without raising premiums to unaffordable levels.

"I want to rise in opposition to the Toomey
substitute amendment which would completely undermine our bill and perpetuate a
failed policy," said Sen. Robert Menendez, D-N.J., lead sponsor of the Homeowner Flood Insurance Affordability Act.

"While
we support putting the national flood insurance program on a path to solvency,
current law hikes rates so fast and so high that it will actually undermine the
solvency of the program," Menendez said.

Toomey said his proposal would soften the
blow on constituents facing rapid and large increases in premiums without
gutting the reforms of Biggert-Waters.

"I want to be
very clear," Toomey said. "There is no question in my mind that if we don't do
anything, if we simply leave Biggert-Waters alone, that has an unacceptable
impact on people who are adversely affected in the form of premium increases
that are way too big way too quickly."

"The Menendez
approach -- the underlying bill we are debating today -- deals with this, but
it deals with this in the wrong way. It deals with this by completely
suspending all the reforms."

Menendez said that Toomey is wrong. His
legislation, he said, would do nothing to stop higher premiums for the 1
percent of policyholders responsible for 33 percent of flood insurance payouts
because of repetitive claims for flood damage. Nor, he said, would it stop
higher rates for owners of second homes, including multi-million dollar beach
homes.

Michael
Hecht, president and CEO of Greater New Orleans Inc. and leader of the
nationwide Coalition for Sustainable Flood Insurance, said when the group,
including Parish presidents in Louisiana, contacted members of Congress last
year, many members weren't aware of the large premium increases resulting from
Biggert-Waters.

"However, through the leadership of Senators
Landrieu and Vitter, as well as the bill's sponsors, Senators Menendez and (Johnny)
Isakson (R-Ga., we now have legislation that will provide short-term relief, as
well as a long-term path to developing a fiscally responsible flood insurance
program that protects people, property and the economy," Hecht said. "We urge
the House to act on this legislation as soon as possible."

The Toomey approach may not be totally
dead, despite the 64-35 rejection by the Senate on Thursday. Sources said Toomey met recently with Rep.
Jeb Hensarling, R-Tex., chair of the House Financial Services Committee, about
moving his proposal in the House.

Reps. Bill Cassidy, R-Baton Rouge
and Steve Scalise, R-Jefferson, both vowed a strong effort in the House to
protect homeowners from unaffordable premium increases.

Scalise
said, though the Senate bill "does not provide the long-term relief we are working
to achieve," it "is one more positive step for Louisiana families who are
facing the devastation of unaffordable and unrealistic flood insurance premium
hikes."

"I continue
pressing House leadership to quickly work with us to fix the broken flood insurance
program, and I won't stop working until we get it done," Scalise said.

Rep. Maxine Waters, D-Calif., has been supporting efforts to pull back the Biggett-Waters bill she helped write, saying she never anticipated the massive premium increases facing some homeowners.

She said the Senate vote Thursday is a "huge step
toward providing much needed relief for our nation's homeowners."

"Yet the
thousands of families reeling from flood insurance hikes will see no assistance
unless the House of Representatives brings this measure up for a vote," Waters
said. "Tens of thousands of homeowners are now looking to Speaker Boehner and
Majority Leader (Eric) Cantor for the relief they need so badly. I, along with
so many of them, believe the House should act immediately to ensure this
bipartisan legislation is enacted into law."

"Sixty
seven senators, including 14 Republicans, sent a strong message to the
President, leadership in the House of Representatives and policyholders across
the country that we will not be denied," Richmond said.

Bruce
Alpert is a Washington-based reporter for NOLA.com/Times-Picayune. He can be reached
at balpert@nola.com